What is the difference between Mage::getSingletone() andMage::getModel() in Magento

Mage::getSingletone() always finds for an existing object if not then create that a newobject but Mage::getModel() always creates a new object.

 

reference: http://jaseir.com/magento/what-is-the-difference-between-magegetsingletone-andmagegetmodel-in-magento/